1983 (2) TMI 2

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....his court by the Income-tax Appellate Tribunal, Allahabad Bench, Allahabad: "(1) Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the income of the assessee was liable to be assessed as income from other sources ? (2) If the answer to question No. 1 is in the negative, was this income, income from property as claimed by the Department or busine....

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....t from tax on the principle of mutuality. The Commissioner, on the other hand, claimed that it was income from house property and, as such, liable to tax. The present reference relates to the assessment year 1972-73. The Tribunal took the view that the income of the assessee was one from other sources and further, that it was not exempt from tax on the principle of mutuality as claimed by the ass....